Egypt's Dice decides to appoint adviser to study capital raise

This move is part of efforts to face the expected changes in the market due to the spread of the novel coronavirus

  
A trader works at the Egyptian stock exchange in Cairo, Egypt.

A trader works at the Egyptian stock exchange in Cairo, Egypt.

REUTERS/Mohamed Abd El Ghany

Cairo –  The board of directors of Dice Sport and Casual Wear decided to authorise its chairman to appoint an independent financial adviser to study the company’s decision to increase its capital.

This move is part of efforts to face the expected changes in the market due to the spread of the novel coronavirus (COVID-19), the company said in a bourse statement on Sunday.

It is worth mentioning that during the first nine months of 2019, Dice reported net profits of EGP 125.29 million, up from EGP 112.06 million in the year-ago period, including minority shareholders’ rights.

Source: Mubasher

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